The iCloud reset should indicate an imminent release of the
iOS "Gold
Master" to developers, which is
the final retail version of iOS 5. The release of the Gold
Master to developers means the iOS 5 launch is only a couple
weeks away, tops.

While we still haven't heard anything from Apple,
the iOS 5 launch should coincide with the launch of the
iPhone 5
in the coming weeks. When that will happen, your guess is as good
as ours.

If you've been testing out iCloud, then make sure to backup your
data the conventional way using iTunes.